A new insurance world is coming where smart contracts replace insurance documents, blockchain “oracles” supplant claim adjusters, and decentralized autonomous organizations (DAOs) take over traditional insurance carriers. Millions of poor farmers in Africa and Asia will be eligible for coverages like crop insurance too, whereas before, they were too poor and too dispersed to justify the cost of underwriting.
That is the vision, anyway, on display in the recent Smartcon 2022, a two-day conference that sought to provide “exclusive insights into the next generation of Web3 innovation.”
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